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Dec 19, 2012
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/china relationship? >> well, i think that it's a little too early to tell that this is symptomatic of the new administration. but i do expect that there will be progress in certain areas. china has been asking the u.s. to lift restrictions on high-tech exports. and i gather that the obama administration is consider something kind of overhaul of the current restrictions. so there might be some change there was benefit to china. and on the u.s. side, the u.s. would like china to lift restrictions on imports of livestock. and it looks like china is willing to do that on a gradual basis. so i think that there would be some positives coming out of these meetings today and tomorrow. >> and lastly, frank, what would be the most significant policy move period to come from this. again, aside from the news we've already heard about the import duties, are you looking for any big-name tie-ups, or is this about meeting and shaking hands, especially because the u.s. leadership still isn't settled, erkts speci especial
/china relationship? >> well, i think that it's a little too early to tell that this is symptomatic of the new administration. but i do expect that there will be progress in certain areas. china has been asking the u.s. to lift restrictions on high-tech exports. and i gather that the obama administration is consider something kind of overhaul of the current restrictions. so there might be some change there was benefit to china. and on the u.s. side, the u.s. would like china to lift...
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Dec 12, 2012
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china is getting expensive. everyone needs to respond faster to the consumer. >> as much as a success story as this is for inditex, what kind of read is it for the consumer more broadly? i think about the big u.k. department store talking about a great sudden. is the strength perhaps -- great saturday. is the strength perhaps of the consumer, whether it's driven by overseas visits, underestimated? >> i think you're talking about the employment figures. if adds up. if you look at the u.k. particularly, shoppers are out there. if you look at the numbers that we've seen, john lewis had extremely strong figures, asos had strong figures in the u.k. car sales are hitting new highs over the last several years. with the likes of the german mark's, the luxury's doing the best. people are feeling more confident, particularly if they've been in employment for a while. the key thing -- they are shopping for quality. where they actually get value and quality is really -- those companies are doing particularly well. you are b
china is getting expensive. everyone needs to respond faster to the consumer. >> as much as a success story as this is for inditex, what kind of read is it for the consumer more broadly? i think about the big u.k. department store talking about a great sudden. is the strength perhaps -- great saturday. is the strength perhaps of the consumer, whether it's driven by overseas visits, underestimated? >> i think you're talking about the employment figures. if adds up. if you look at the...
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Dec 3, 2012
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so any demand elsewhere could have an impact on china. >> have we had the china slowdown? >> we've had mosts of it i think. but again, china is very much in recent line with the cycle of the global economy and we'll be looking for some of the big growth engines to help them, as well. >> what's the chinese swing factor for investors? >> sitting in europe clearly it's something we focus upon. is it a driving force, absolutely not. the tail risk i think is what scares us. so do i feel heartened by the numbers in china, yes, it's kind of a positive. but there's more important things. >> if you're worried about synchronized global slowdown, you need one begin sort of spluttering on a little bit better. >> the difficulty is that it's a very large consensus among the investors in europe that come what may, they're not going to feel terribly positive about the outlook for the eurozone. the best case scenario is people who have maybe 1%, 1.5%, 2% growth and search weaker in the periphery. as a result, you need something quite astounding out of china to make you feel better. >> you
so any demand elsewhere could have an impact on china. >> have we had the china slowdown? >> we've had mosts of it i think. but again, china is very much in recent line with the cycle of the global economy and we'll be looking for some of the big growth engines to help them, as well. >> what's the chinese swing factor for investors? >> sitting in europe clearly it's something we focus upon. is it a driving force, absolutely not. the tail risk i think is what scares us....
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Dec 6, 2012
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but how do you see the big picture in china? there's definitely a narrative that says high levels of capital spending lead to poor profitability and maybe that's what the stock markets had a sniff on over the last 18 months. where do you think we are in that story? >> well, no doubt it's driven by capital like all capital investments. and where are the investments going? they're going to china's massive infrastructure. don't forget china is still in the middle of a largest organization exercise in human history, building something like 221 new cities. so there's no did you tell that some of the buildings and roads or even shopping malls may in the short term appear empty. and then that fits into the kind of speculation there will be a huge asset or property bubble that's bound it on burst. but don't forgetbeginning, a lo buildings. and don't forget the speed of the urbanization process is going on in china. but as a national strategy also to balance the economy away from the capital kind of investment towards domestic consumptio
but how do you see the big picture in china? there's definitely a narrative that says high levels of capital spending lead to poor profitability and maybe that's what the stock markets had a sniff on over the last 18 months. where do you think we are in that story? >> well, no doubt it's driven by capital like all capital investments. and where are the investments going? they're going to china's massive infrastructure. don't forget china is still in the middle of a largest organization...
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Dec 4, 2012
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especially markets like china. and the ideal way to ride out these difficult times and to reduce costs would be to acquire properties that mine steel making raw materials. and that's exactly what posco is doing according to these reports that say a consortium that it leads has been named preferred bid forea stake in a canadian mine. some reports say it's seeking to acquire around a 10% to 15% stake and is scheduled to sign a sales and purchase agreement early next year. and how will posco finance this acquisition? observers say it's been selling many noncore assets like its holdings in sk telecom to cushion these investment plans like the purchase of the australian steel and iron ore producer aryan which by the way collapsed late october. back to you. >> all right, chery, thanks for that. still to come, we'll speak as to a guest who believes volatility in the oil market will continue well into 2013. we'll find where his predictions are for crude next year. i always wait until the last minute. can i still ship a gif
especially markets like china. and the ideal way to ride out these difficult times and to reduce costs would be to acquire properties that mine steel making raw materials. and that's exactly what posco is doing according to these reports that say a consortium that it leads has been named preferred bid forea stake in a canadian mine. some reports say it's seeking to acquire around a 10% to 15% stake and is scheduled to sign a sales and purchase agreement early next year. and how will posco...
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Dec 10, 2012
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than china. partly because of relative wage levels, but also partly because of its proximity to the market and with energy and transport costs being what they are today, you're going to see a lot of change. and the u.s., like our industrialized economies, is going to have opportunities and it needs to prepare itself to exploit those opportunities. >> the ilo director general guy ryder talking to carolin. just a reminder, we spoke to pascal lamy who confirmed they've downgraded the world trade percent this year. that's had an impact on the volume of trade. it did ask him about what he thought the political situation in italy was going to develop and what impact. he said he thought and believed it would be contained, but then, of course, we might expect him to say that, as well. but he was speaking with mario monti earlier in the weekend, as well. on saturday he was with him. >> a diplomatic response, i would expect no less. great stuff from geneva. looking forward to having you back here tomorrow.
than china. partly because of relative wage levels, but also partly because of its proximity to the market and with energy and transport costs being what they are today, you're going to see a lot of change. and the u.s., like our industrialized economies, is going to have opportunities and it needs to prepare itself to exploit those opportunities. >> the ilo director general guy ryder talking to carolin. just a reminder, we spoke to pascal lamy who confirmed they've downgraded the world...
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Dec 5, 2012
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that get into china. so it's not all roses, but we need new marketplaces and china is certainly growing as an extraordinary pace. >> yeah, and what's it like trying to finance productions at the moment? >> just globally -- i mean, the marketplace is pretty strong. after 2008, there was -- we kind of hit a roadblock with banks and with wall street and all of that kind of stuff. but i think the marketplace and the financial marketplace has come back pretty strong. though there are problems in some territories in europe like italy and spain, greece, of course. there are other strong markets. again, this is a reason why china and russia and brazil and india have become so important at the global scenario. >> okay, we wish you all the best. have a great few days there in singapore. >>> the british chancellor executive george osborne is giving his autumn statement today. the chancellor has already dropped big hints about what we can expect. katie barnfield has gone up to man chester to see how the government's
that get into china. so it's not all roses, but we need new marketplaces and china is certainly growing as an extraordinary pace. >> yeah, and what's it like trying to finance productions at the moment? >> just globally -- i mean, the marketplace is pretty strong. after 2008, there was -- we kind of hit a roadblock with banks and with wall street and all of that kind of stuff. but i think the marketplace and the financial marketplace has come back pretty strong. though there are...
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Dec 11, 2012
12/12
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china is still positive in the fourth quarter. china is going to show a slow and steady improvement. so we need those. >> higher expectations stronger in the likes of taiwan, india and brazil. let's go back to where you say they're weakest. greece, italy, spain, the netherlands. this is a very weak feature, indeed. how bad in it? >> it's bad. the eurozone is the global economic problem now. if you look at asia where i just returned from, both countries are feeling optimistic. but they seem to be inwardly focused now by being a triangle of china, india, indonesia. we're not seeing a great benefit into europe as we did before. for instance, germany is looking pretty pessimistic. based on its lack of export performance to places like china. >> yeah. when the bundes bank came out and shortly downgraded forecasts, how is the employment picture? if you've got a relatively healthy china and the u.s. consumer bounce back, wouldn't that help germany? >> it certainly would. germany is relatively flat in terms of the employment outlook. so i
china is still positive in the fourth quarter. china is going to show a slow and steady improvement. so we need those. >> higher expectations stronger in the likes of taiwan, india and brazil. let's go back to where you say they're weakest. greece, italy, spain, the netherlands. this is a very weak feature, indeed. how bad in it? >> it's bad. the eurozone is the global economic problem now. if you look at asia where i just returned from, both countries are feeling optimistic. but...